LPG vs TNK: Correlation
Dorian LPG Ltd. (LPG) and Teekay Tankers Ltd. (TNK) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LPG and TNK?
Across a 3-year window, the weekly returns of LPG and TNK correlate at 0.67, strong. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 1205.7 %².
By 3-year correlation, TNK places #4 of the 11 assets tracked against LPG. The last year tells two different stories: TNK led by 19.0 percentage points, +68.3% for LPG against +87.3% for TNK.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
LPG vs TNK: side by side
| LPG (Dorian LPG Ltd.) | TNK (Teekay Tankers Ltd.) | |
|---|---|---|
| 1-year return | +68.3% | +87.3% |
| 5-year return | +725.0% | +813.1% |
| Volatility (ann.) | 47.1% | 38.5% |
| Beta vs S&P 500 | 0.96 | 0.51 |
| Max drawdown (3Y) | -62.9% | -52.4% |
| Market cap | $2.1B | $3.1B |
| P/E (trailing) | 6.4 | 4.9 |
| Dividend yield | 6.99% | 1.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LPG | TNK |
|---|---|---|
| 2022 | +109.6% | +182.7% |
| 2023 | +171.4% | +69.2% |
| 2024 | -37.8% | -16.6% |
| 2025 | +9.8% | +39.6% |
| 2026 | +116.9% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LPG and TNK good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between LPG and TNK?
The LPG/TNK correlation stands at 0.67 on a 3-year window (1 year: 0.66, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is TNK a good diversifier for LPG?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lpg-vs-tnk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lpg-vs-tnk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LPG correlations · TNK correlations
